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BPE advises London based Totally Plc on placing and open offer to raise £18million

BPE Solicitors LLP, the Gloucestershire based law firm, has advised returning AIM quoted client, Totally plc, on a placing and open offer to raise up to approximately £18.0 million (before expenses).  The placing and open offer, which was arranged by Allenby Capital Limited and Cenkos Securities plc, received strong support from both new and existing institutional investors and was oversubscribed.
 
Totally is a London based provider of a range of out-of-hospital services to the healthcare sector in the UK and intends to use the proceeds of the placing and open offer to drive its ‘buy and build’ strategy by funding future acquisitions, to partially satisfy future deferred consideration payments payable in 2017, to provide further funding in relation to the group’s direct-to-consumer health coaching services, and to provide general working capital.
 
The placing is in two tranches; the firm placing shares are expected to be admitted to trading on AIM on 2 March 2017 and the conditional placing shares and open offer shares are expected to be admitted to trading on AIM on 17 March 2017.
 
In the last 12 months, BPE has advised Totally on the reverse takeover of Premier Physical Healthcare Limited (a provider of physical healthcare services to both public and private patients) and on the acquisitions of About Health Limited (a provider of community based health services) and Optimum Sports Performance Centre Limited (a provider of physiotherapy services). 
 
The BPE team, which was led by Head of Corporate, Anthony Rudge, comprised Senior Associate, Louise Grzasko, and Trainee Solicitor, Kathryn Broughton.
 
Commenting, Anthony Rudge said “We are delighted to have worked alongside Totally on its oversubscribed placing and open offer, as it seeks to become a leading out-of-hospital healthcare provider in the UK.  This is the fourth time we have advised the company in the last 12 months and we look forward to having the opportunity to do so again in the near future.”
 
From starting a new business to development through growth, joint ventures, buying, selling, or floating on the stock market, BPE’s corporate team has the breadth and depth of experience to support a business with sound legal advice through every stage of its lifecycle.